BOONE COUNTY ECONOMIC DEVELOPMENT

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1989

Legal Domicile

Principal Officer

ANDREA KERN

Phone

4632139936

Tax Period

2024-01-01 to 2024-12-31

BOONE COUNTY ECONOMIC DEVELOPMENT, founded in 1989, is a small nonprofit in the Community Improvement sector that reported $711K in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. The organization ran a surplus of $118K, a strong 17% operating margin.

Mission

TO PROMOTE ECONOMIC DEVELOPMENT IN BOONE COUNTY.

Program Service Accomplishments

Program 1

TO ENCOURAGE, FOSTER, AND STIMULATE AN ATMOSPHERE AND ENVIRONMENT FOR COMMERCE, TRADE, BUSINESS, FINANCE, AND PROFESSIONAL INTEREST WITHIN BOONE COUNTY, INDIANA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $636,390

Program Service Revenue $44,185

Investment Income $18,278

Other Revenue $11,783

TOTAL REVENUE $710,636

Expense Breakdown

Grants Paid $0

Salaries & Benefits $360,257

Fundraising Expenses $0

Other Expenses $231,922

TOTAL EXPENSES $592,179

Year-over-Year Comparison

	2024	2023	Change
Revenue	$710,636	$612,591	+0.2%
Expenses	$592,179	$526,020	+0.1%
Net Income	$118,457	$86,571	+0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$150,986

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
C SHANE CONNER	PRESIDENT	1.00	Officer Director	$0	$0	$0
KELLY BRAVERMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
ADAM OWENS	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
COREY KUTZ	TREASURER	1.00	Officer Director	$0	$0	$0
RICK ISENHOWER	BOARD MEMBER	1.00	Director	$0	$0	$0
LISA GALVIN	BOARD MEMBER	1.00	Director	$0	$0	$0
SHARI RICHEY	BOARD MEMBER	1.00	Director	$0	$0	$0
MOLLY WHITEHEAD	CEO - LEFT IN 2024	40.00	Officer	$109,220	$41,766	$150,986

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$710,636	$592,179	$1,157,297	$118,457
2023	$612,591	$526,020	$1,044,831	$86,571
2022	$732,600	$578,389	$929,198	$154,211
2021	$534,614	$545,013	$780,143	$-10,399
2020	$580,267	$413,473	$788,641	$166,794
2019	$514,579	$535,686	$635,138	$-21,107
2018	$492,529	$545,289	$641,928	$-52,760